Here are five Fastmarkets stories you might have missed on Wednesday April 1 that are worth another look.Spain's Ministry of Industry, Trade & Tourism has finally confirmed the steel industry is considered "essential" and can continue operating, albeit at a slower pace, the Spanish steel distributors association, UAHE, said on April 1.Arconic Inc has completed its separation into two standalone co...Read More
The three-month copper price on the London Metal Exchange was lower at the close of trading on Wednesday April 1, with price action shedding some $133.50 per tonne against moderate volumes, while continued inflows saw aluminium futures dip below nearby support.Copper's outright price on the LME closed at $4,800 per tonne on Wednesday afternoon, climbing from an intraday low of $4,769 per tonne, wh...Read More
The South African port authority is looking to reserve Durban port for the shipment of essential goods only, revoking a separate statement by the country's maritime authority to allow processing of metals cargoes during the 21-day lockdown, Fastmarkets has learned. The Transnet National Ports Authority, TNPA, insisted on April 1 that the current arrangements for usage of the busiest port in sub-Sa...Read More
Here are five Fastmarkets stories you might have missed on Wednesday April 1 that are worth another look.Spain's Ministry of Industry, Trade & Tourism has finally confirmed the steel industry is considered "essential" and can continue operating, albeit at a slower pace, the Spanish steel distributors association, UAHE, said on April 1.Arconic Inc has completed its separation into two standalone co...Read More
Here are five Fastmarkets stories you might have missed on Wednesday April 1 that are worth another look.Spain's Ministry of Industry, Trade & Tourism has finally confirmed the steel industry is considered "essential" and can continue operating, albeit at a slower pace, the Spanish steel distributors association, UAHE, said on April 1.Arconic Inc has completed its separation into two standalone co...Read More
The South African port authority is looking to reserve Durban port for the shipment of essential goods only, revoking a separate statement by the country's maritime authority to allow processing of metals cargoes during the 21-day lockdown, Fastmarkets has learned. The Transnet National Ports Authority, TNPA, insisted on April 1 that the current arrangements for usage of the busiest port in sub-Sa...Read More
Here are five Fastmarkets stories you might have missed on Wednesday April 1 that are worth another look.Spain's Ministry of Industry, Trade & Tourism has finally confirmed the steel industry is considered "essential" and can continue operating, albeit at a slower pace, the Spanish steel distributors association, UAHE, said on April 1.Arconic Inc has completed its separation into two standalone co...Read More
South Africa's 21-day lockdown aimed at curbing the spread of the Covid-19 virus has highlighted the cobalt market's dependence on the shipping route out of Durban. South Africa entered the lockdown - initially for three weeks - on Thursday March 26, creating uncertainty over loading at ports, including Durban, which is frequently used for the shipment of Democratic Republic of the Congo-mined cob...Read More
After months of virtual inactivity, supply worries from Russia, a major exporter of ferro-titanium to Europe, have sparked upward movement in European spot prices that may trend higher in the near term, trade sources told Fastmarkets. Fastmarkets' ferro-titanium 70% Ti, max 4.5% Al, ddp Europe price jumped by more than 10% week on week on Wednesday April 1 to $4.50-5.00 per kg from $4.10-4.50...Read More
Turkish steel producers remained quiet in the deep-sea scrap import markets while suppliers were unwilling to sell at current price levels, sources said on Wednesday April 1.The mills were mostly shunning scrap purchases because of the coronavirus (Covid-19) outbreak, which brought steel trade to a halt and caused mills to close or cut production.After several steel mills in the Izmir region were...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday April 1. Key drivers Russia, a supplier of 40% of European ferro-titanium, is on lockdown due to the Covid-19 virus pandemic until next week and it could be extended.Russian producers are considering declaring force majeure should the lockdown continue beyond a week. Titanium scrap prices are stable...Read More
China's Caixin manufacturing purchasing managers' index (PMI) was released earlier on Wednesday April 1; it rebounded to 50.1 in March from 40.3 in February, which supports the rebound in the official PMI data released on Tuesday - another sign that purchasing managers reported conditions were just "better" in March than they were a month earlier.But the same was not true in Japan, where the final...Read More
South Africa's 21-day lockdown aimed at curbing the spread of the Covid-19 virus has highlighted the cobalt market's dependence on the shipping route out of Durban. South Africa entered the lockdown - initially for three weeks - on Thursday March 26, creating uncertainty over loading at ports, including Durban, which is frequently used for the shipment of Democratic Republic of the Congo-mined cob...Read More
Key data from the April 1 pricing session in London. Key drivers Benchmark metal prices continue to come under pressure from the spread of the Covid-19 virus, its dampening effect on the global economy and weakening demand from lockdowns on...Read More
China will extend the new energy vehicle (NEV) purchase subsidy and purchase tax exemption policy for two years in an effort to support consumption and mitigate the impact of the Covid-19 pandemic on the economy. Yet the measures may not be sufficient to drive lithium and cobalt market development significantly in the near term, Fastmarkets heard. Chinese Premier Li Keqiang announced at a State Co...Read More
Spain's Ministry of Industry, Trade & Tourism has finally confirmed the steel industry is considered "essential" and can continue operating, albeit at a slower pace, the Spanish steel distributors association, UAHE, said on Wednesday April 1.The Spanish government issued a royal decree on March 29, ordering the shutdown of all non-essential activities and businesses from March 30, with a rest...Read More
The mood in the European market for hot-rolled coil has been downbeat but prices have remained stable despite limited trading activity, sources told Fastmarkets on Wednesday April 1.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, fell by just ?,?0.26 per tonne to ?,?472.50 ($519.73) per tonne on Wednesday, from ?,?472.86 per tonne on March 31.Wednesday's index was ca...Read More
Turkey imported 629,346 tonnes of flat steel in February 2020, up 25.49% from 501,513 tonnes in the corresponding month of 2019, according to the Turkish Statistical Institute (TUIK).The increase in import volumes was due to restocking in December 2019, when orders for February delivery were placed.Demand for flat steel is weak in Turkey at the moment due to the global Covid-19 pandemic and steel...Read More
Here are five Fastmarkets stories you might have missed on Wednesday April 1 that are worth another look.Spain's Ministry of Industry, Trade & Tourism has finally confirmed the steel industry is considered "essential" and can continue operating, albeit at a slower pace, the Spanish steel distributors association, UAHE, said on April 1.Arconic Inc has completed its separation into two standalone co...Read More
Spain's Ministry of Industry, Trade & Tourism has finally confirmed the steel industry is considered "essential" and can continue operating, albeit at a slower pace, the Spanish steel distributors association, UAHE, said on Wednesday April 1.The Spanish government issued a royal decree on March 29, ordering the shutdown of all non-essential activities and businesses from March 30, with a rest...Read More